World’s leading wireless technology innovator, Qualcomm announced the launch of the ‘Snapdragon Metaverse Fund’. The fund is created to invest up to $100 million in organizations building immersive XR experiences, core augmented reality (AR) and related artificial intelligence (AI) technologies.
As per the press release, the fund aims to employ capital via venture investments in XR companies by Qualcomm Ventures.
- The fund will enable both the consumer and the enterprise to build and engage in the metaverse.
- The recipients of the fund may gain early access to innovative XR platform technology, hardware kits and promotion opportunities too.
The fund will also be directed towards a grant program by Qualcomm Technologies, for the developer’s ecosystem funding in XR experiences such as education, health and wellness, media, gaming, entertainment, and enterprise.
Additionally, recipients may gain early access to innovative XR platform technology, hardware kits, and co-marketing, promotion opportunities and global network of investors, and co-marketing.
Leading in this direction, Qualcomm also announced its partnership with Square Enix to develop head-worn augmented and mixed-reality gaming experiences.
Cristiano Amon, President & CEO of Qualcomm said, “We deliver the groundbreaking platform technology and experiences that will enable both the consumer and the enterprise to build and engage in the metaverse and allow the physical and digital worlds to be connected. Qualcomm is the ticket to the metaverse”.
Through the Snapdragon Metaverse Fund, Qualcomm aims to empower developers and companies of all scales as they strive to go beyond possibilities in this new era of spatial computing.
Metaverse is the latest ‘golden ticket’ for firms catching up on the futuristic show. From tech firms, gaming ventures to the fashion industry, everyone is speeding up to win the race.
Yes fashion industry too, and it is doing so in quite a style! Metaverse fashion is seemingly splashing quite a glamour in the NFT space.